You missed an RMD—now what?
The rules surrounding Required Minimum Distributions are complicated and missing them can be costly. If you have made an error, follow these steps to amend it and seek a penalty waiver
Beyond Financial Planning: Finding Vibrant Living in Retirement
Finding meaning and purpose after your career is a common concern. Here, we share ideas from “Vibrant Living,” a TV segment about developing a healthy, happy retirement.
Life Insurance in Retirement: Is it Necessary?
Determining whether you need life insurance in retirement can get complicated—and it depends on your unique situation. Let these questions guide you.
The Differences Between Estate and Inheritance Taxes
Estate tax is levied against someone’s estate upon death and is based on the size of the total estate. Inheritance tax is levied against the heirs of an estate.
The Importance of Reporting to Credit Agencies After Death
It is the responsibility of the surviving spouse or the estate’s executor to notify lenders on joint accounts, to close out accounts in the deceased’s name, and to notify the three major credit agencies.
Estate Planning Essentials Part 3: Protecting Beneficiaries from Themselves
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
Estate Planning Essentials Part 2: Are Trusts Needed for Minor Beneficiaries?
Trusts can be an essential part of your plan—but they are often complex and time-consuming to set up.
Estate Planning Essentials Part 1: Take Time to Prepare the Heir
The mechanics of estate planning can be easy enough, but the big picture requires a lot of thought and soul searching.
Family Vacations as a Planning Tool
Passing on your story provides something deeper than wealth.
Financial Challenges of Losing a Spouse in Retirement
Widows and widowers whose spouses were younger than 72 at the time of death need to examine their options carefully before rolling over their spouse’s IRA.
I Just Inherited an IRA From My Parent. Now What?
The new rule for adults who inherit an IRA from their parents in 2020 and beyond is that they must liquidate that account within 10 years.
7 Steps to Take When You Inherit an IRA
When Inheriting an IRA there are complex rules you will need to follow to avoid costly errors.
What’s the Difference Between Premium Bonds and Discount Bonds?
A premium bond has a coupon rate higher than the prevailing interest rate for that particular bond maturity and credit quality. A discount bond, in contrast, has a coupon rate lower than the prevailing interest rate for that particular bond maturity and credit quality.
Passive Investing: Index Mutual Funds vs. Exchange-Traded Funds (ETFs)
The difference can be summed up in two words: intraday trading. Unlike mutual funds, ETFs can be bought and sold anytime throughout the day.
529 Plans: Know the Rules for K‑12 and College Qualified Expenses
529 plans can be a good option for both college and K‑12 savings. But to avoid paying taxes or early withdrawal penalties, it’s vitally important to keep up with any changes to the rules.
Are Gifts to Children Tax-Deductible?
There is a way to get a partial deduction for money that will eventually go to your children. A charitable lead annuity trust gifts money to a charity first, and then passes assets to your beneficiaries.
Non-working Spouses Can Contribute to an IRA: Here’s How
Income earned by one spouse can be used to fund retirement accounts for both spouses.
Prudent Withdrawal Rate
Even if the probability of success for a 4% withdraw rate is less than some thought, it’s still strong when your portfolio is monitored actively.
Why Chasing Yield Is a Bad Idea
A better overall strategy is to invest for total return.
Tax Benefits of Continuing Care Retirement Communities
Don’t overlook these benefits.
